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The Kowloon Motor Bus Company, which my grandfather William Louey Sui-Tak founded in 1921, has always believed in investing in human capital as a priority. His commitment to staff welfare is what I believe has fuelled the success of our business. It's a dedication that has consequently spurred my own passion and interest in health and wellness.
My father passed away at the age of 49, and my grandfather and uncle also passed away in their 50s, which exacerbated my concern that I too would die young. This sudden realization of my mortality made me acutely aware of my own health and even more dedicated to my family business.
Many family businesses struggle to survive beyond their second generation of inheritors. While the business founders are credited for being the pillars of the company, the second generation is often feared to be passive inheritors who can make or break a business. As a fourth-generation businessman, I strive to encourage the company to embrace change, especially in an age where green technology is becoming more important than ever for business viability in my industry.
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Health is wealth
A business leader who focuses first on their health and wellness will be fit enough to carry their responsibilities and inspire their management teams and staff members. New data released by Babble in 2024 — a survey of 500 business leaders in the UK — showed that 76% of business leaders wanted to strengthen their own physical, mental and ethical fitness in order to succeed.
Following these three pillars of fitness, according to the report, means that business leaders can be more focused and be equipped with the ability to inspire teams. Physical fitness is of paramount importance, as shown by Howard Schultz, the Starbucks CEO who is keen on cycling challenges. He believes that pushing his physical limits can develop both mental strength and the discipline one requires to lead by example.
CEO burnout
Overexertion, whether it be physical or mental, can lead to burnout that will harm your overall efficiency. Many business leaders suffer from this. A 2022 research by Deloitte showed that 82% of senior leaders in Canada, Europe and the U.S. have experienced burnout symptoms such as stress, depression and extreme exhaustion. Of 1,100 respondents surveyed for the research, 96% of those who reported exhaustion also showed that they also experienced a decline in their mental health.
An over-exhausted, sleep-deprived leader is also more likely to be a less effective negotiator, less capable of empathy and understanding different viewpoints and is not able to drive innovation and change within the company. This combination of effects will surely drive the organization's overall performance down.
In fact, there is evidence showing that poor CEO health is correlated with poor business outcomes. Moreover, poor health will often result in long-term illnesses that result in unwanted absences from the company, hampering its progress and creating greater uncertainty among staff and shareholders.
A decline in company performance will also worsen a business leader's health and well-being. Another study by the National Bureau of Economic Research conducted in 2021 also shows the devastating longer-term effects of senior executives' declining health and wellness. The study found that CEOs whose companies declined looked older and lived two years less than their counterparts.
Related: Watch What Happens When You Invest in Employee Wellness
A healthy work culture
The fate of a company weighs heavily on the business leader being fit and healthy. A leader should set a good example for their team members to follow suit, with physical and mental performance being no exception. By doing this, a business leader has the power to shape the entire company culture, and a healthy leader will surely instill more health and well-being-focused programs to create a better work environment for employees, too.
A company culture that focuses on overall health and wellness will eventually increase staff retention, which ultimately contributes to the longevity of the business. Two-decades-long research into the predictors of company longevity conducted by McKinsey & Company revealed that healthy organizations, particularly those that not only have an efficient operational ability but also an emphasis on the health and wellness of its people, are more likely to perform better on a long-term basis.
Healthy companies are also those that are better equipped to manage downside risk and are resilient. During the Covid-19 pandemic, it was found that healthy companies were 59% less likely than unhealthy organizations to reveal signs of financial damage.
Related: Inspire Wellness in Your Workplace, and Watch Productivity Soar
It is becoming clearer than ever that the future of a company depends on the overall health and wellness of its workforce and its visionary leader. Organizations that realize this are better equipped for the challenges ahead and are more likely to survive in this ever-changing and increasingly volatile global business environment.
